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the pentagon notifies congress today of its large-scale furlough plan should those cuts kick in. >>> let's head to wall street. jackie deangelis is at the new york stock exchange. >> good morning, natalie. another day, another cyber attack. this time on apple. authorities believe that the hackers that targeted facebook last week use d the same softwae to attack the mac computers of apple employees. all this, of course, coming on the heels of chrysler, jeep and burger king saying their twitter accounts were attacked. >>> meanwhile it isn't 1999 but investors are sure partying like it is, after nasdaq hit an all-time high. >>> generating some buzz after a facebook town hall chat with parents' magazine and a discussion focusing on joe biden's gun control efforts. >> if you want to protect yourself, get a double barrel shotgun. you don't need an ar-15. buy a shotgun. buy a shotgun. >> vice president says he has two shotguns of his own at his home in delaware. those dash cam videos from russia never seem to disappoint. take a look, the driver was surprised to see that the vehicle came at
the pentagon notifies congress today of its large-scale furlough plan should those cuts kick in. >>> let's head to wall street. jackie deangelis is at the new york stock exchange. >> good morning, natalie. another day, another cyber attack. this time on apple. authorities believe that the hackers that targeted facebook last week use d the same softwae to attack the mac computers of apple employees. all this, of course, coming on the heels of chrysler, jeep and burger king saying...
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we're live at pentagon with the details on this. plus, the man convicted in the killing of his washington intern named chandra levy wants a whole new trial. his lawyers said that lawyers did not give him a fair shake and this thing must be tried again. his time. his time. step seven point two one two. rify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. can make any old day a special occasion. so she makes her new mini cream pies with real cream filling and milk chocolate on a cookie-crumb crust. marie callender's. it's time to savor. humans. even when we cross our t's and dot our i's, we still run into problems. namely, other humans. which is why at liberty mutual insurance, auto policies come with new car replacement and accident forgiveness if you qualify. see what else comes standard at libertymutual.com. liberty mutual insurance. responsibility. wha
we're live at pentagon with the details on this. plus, the man convicted in the killing of his washington intern named chandra levy wants a whole new trial. his lawyers said that lawyers did not give him a fair shake and this thing must be tried again. his time. his time. step seven point two one two. rify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies...
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tonight we learn from the pentagon a sequestration could affect the
tonight we learn from the pentagon a sequestration could affect the
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. >> reporter: today, there's a new warning from the pentagon, they say more than 700,000 civilian workers would have to take one day off without pay a week. one day after president obama continued his plea to the public and to congress saying that this is going to be devastating for the economy, he wants congress to act and it comes one day after a bipartisan commission released a new plan that would detail $2.4 trillion cuts over 12 years. mara? >> thank you. >>> we'll have more on those budget cuts and other political stories later in the show. >>> he was being considered for a big show, but now general john allen has announced that he's retired. he completed 19 months as top commander in afghanistan, instead of taking the new job, he'll retire to help his wife deal with health issues. here's your "first look" at the dish of scrambled politics americans still don't like congress very much. 15% approve of the job that the lawmakers are doing, up one point from last month. >>> deanny hoyer said that the 2016 presidential race is easy to predict, if hillary clinton decides to win, she'll c
. >> reporter: today, there's a new warning from the pentagon, they say more than 700,000 civilian workers would have to take one day off without pay a week. one day after president obama continued his plea to the public and to congress saying that this is going to be devastating for the economy, he wants congress to act and it comes one day after a bipartisan commission released a new plan that would detail $2.4 trillion cuts over 12 years. mara? >> thank you. >>> we'll...
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the pentagon is going with congress to say that they are likely go to furlough more than 700,000 employees if these cuts were to take effect. it's basically going to be a 20% pay cut for those employees. and that's going to trickle down into the economy. now that announcement comes one day after president obama called on congress to act. >>> vice president joe biden is offering up advice on the best way to defend yourself in you with a firearm. in a facebook meeting tuesday, biden talked about the white house efforts to restrict the size of ammunition clips and other proposals. during that chashgts biden said the best thing foreprotection is a shotgun. >> put that double-barrel shotgun and fire two blasts outside the house. i promise you, whoever is coming in is not going to -- you don't need an ar-15. it's harder to aim. it's harder to use. and in fact, you don't need 30 rounds to protect yourself. buy a shotgun. >> buy a shotgun. all right. biden said he keeps two shotguns locked up at home and he's told his wife jill to use them if necessary. >>> he's been considered for a big new job b
the pentagon is going with congress to say that they are likely go to furlough more than 700,000 employees if these cuts were to take effect. it's basically going to be a 20% pay cut for those employees. and that's going to trickle down into the economy. now that announcement comes one day after president obama called on congress to act. >>> vice president joe biden is offering up advice on the best way to defend yourself in you with a firearm. in a facebook meeting tuesday, biden...
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the pentagon budget would be cut 11% a year, even as the war in afghanistan continues. d.o.d. civilian workers will likely take the hit. plans call for more than 700,000 to take one day off a week without pay, a 20% pay cut. jason mckenzie owns ride on bikes in columbus, georgia, home to fort benning. military employees make up half his business so smaller paychecks could mean fewer sales. >> it's going to take money out of everybody's pocket, everything will crash. everybody will stop spending, everybody. >> reporter: one of the ripple effects of gridlock in washington felt far beyond the beltway. john yang, nbc news, chicago. >> all of this somehow brings us to our political director and chief white house correspondent, chuck todd. so chuck, what's going to happen here? and if it does happen and if it's fixed, do you wonder why so many people are so deeply angry, cynical and checked out of our politics? >> i can understand if viewers tonight think this is chicken little all over again. the president holding another event surrounded by people who could see dire effects of a b
the pentagon budget would be cut 11% a year, even as the war in afghanistan continues. d.o.d. civilian workers will likely take the hit. plans call for more than 700,000 to take one day off a week without pay, a 20% pay cut. jason mckenzie owns ride on bikes in columbus, georgia, home to fort benning. military employees make up half his business so smaller paychecks could mean fewer sales. >> it's going to take money out of everybody's pocket, everything will crash. everybody will stop...
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internal pentagon documents show the army would have to stop bringing in equipment for overall at its maintenance depots. much of it badly in need of repair after a decade of war. the navy would shut down four of its nine carrier airwaves. once shut down, it would take the air wicks nine to 12 months to regain their full fighting cape -blgt. and that's just for the rest of this fiscal year. if the budget crisis is not resolved, a new round of furloughs and cuts would begin with the start of the next fiscal year on october 1. >> pelley: david, thank you. like we said, it's not just the defense budget. every federal agency is facing the knife and we asked chip reid to fill us in on that. >> reporter: the f.b.i. says the budget cuts would require all employees, including special agents, to be furloughed for up to 14 days. jan fedarcyk is the former head of the f.b.i.'s new york field office. what do you think the top managers at the f.b.i. are most worried about? >> i'm sure they are most worried about what does this mean within the national security arena. that's probably at the top of
internal pentagon documents show the army would have to stop bringing in equipment for overall at its maintenance depots. much of it badly in need of repair after a decade of war. the navy would shut down four of its nine carrier airwaves. once shut down, it would take the air wicks nine to 12 months to regain their full fighting cape -blgt. and that's just for the rest of this fiscal year. if the budget crisis is not resolved, a new round of furloughs and cuts would begin with the start of the...
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those are very similar to the kind of tools you would need to hack into, let's say, the pentagon. >> reporter: and those fighting back say we can help. step one, avoid any message that looks suspicious. >> and that really comes from people who are not very careful about pass words, particularly pass words, e-mail pass words. >> reporter: so be careful because there are steps we can take to protect ourselves and our private data. in an ironic twist, the chinese hackers were found because in order to communicate with each other outside of the chinese firewall they had to logon to their facebook and twitter accounts where they were discovered. silicon valley technology at work to expose the hackers as well as to protect us from them. jessica? >> okay, thank you, scott. now one thing hackers could not disrupt is the steady march of google stock. shares reached a new peak today, $800 a share boosted by a rumor that google may soon open retail stores ala apple. california's largest public pension system is taking a stand on gun violence, withdrawing investments that make assault weapons an
those are very similar to the kind of tools you would need to hack into, let's say, the pentagon. >> reporter: and those fighting back say we can help. step one, avoid any message that looks suspicious. >> and that really comes from people who are not very careful about pass words, particularly pass words, e-mail pass words. >> reporter: so be careful because there are steps we can take to protect ourselves and our private data. in an ironic twist, the chinese hackers were...
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the pentagon notifies congress today of its large-scale furlough plan should those cuts kick in. >>> let's head to wall street. jackie deangelis is at the new york stock exchange. >> good morning, natalie. another day, another cyber attack. this time on apple. authorities believe that the hackers that targeted facebook last week use d the same softwae to attack the mac computers of apple employees. all this, of course, coming on the heels of chrysler, jeep and burger king saying their twitter accounts were attacked. >>> meanwhile it isn't 1999 but investors are sure partying like it is, after nasdaq hit an all-time high. >>> generating some buzz after a facebook town hall chat with parents' magazine and a discussion focusing on joe biden's gun control efforts. >> if you want to protect yourself, get a double barrel shotgun. you don't need an ar-15. buy a shotgun. buy a shotgun. >> vice president says he has two shotguns of his own at his home in delaware. those dash cam videos from russia never seem to disappoint. take a look, the driver was surprised to see that the vehicle came at
the pentagon notifies congress today of its large-scale furlough plan should those cuts kick in. >>> let's head to wall street. jackie deangelis is at the new york stock exchange. >> good morning, natalie. another day, another cyber attack. this time on apple. authorities believe that the hackers that targeted facebook last week use d the same softwae to attack the mac computers of apple employees. all this, of course, coming on the heels of chrysler, jeep and burger king saying...
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but how much discretion do they have at the pentagon, barbara? can they get rid of big ticket gun programs, weapons instead of furloughing these thousands of people, for example? >> they say they cannot do that, wolf. essentially, sequestration, that word again, means mandatory across the board budget cuts. everybody takes a hit. so they say they can't do that. >> the military will not furlough workers on bases around the world and there are at least 100 bases around the world. only bases in the united states can be furloughed. why is that? >> in many cases these foreign nonu.s. workers are paid by the local countries so there's no savings there. in other cases, they would have to renegotiate essentially employment agreements with that government. that opens up a can of worms. a lot of this is just set in stone, very little discretion about how to carry all of this out if it comes to that, wolf. >> $46 billion in defense department cuts, according to this forced budget plan cut. just for some perspective, the u.s. is going to spend $88 billion th
but how much discretion do they have at the pentagon, barbara? can they get rid of big ticket gun programs, weapons instead of furloughing these thousands of people, for example? >> they say they cannot do that, wolf. essentially, sequestration, that word again, means mandatory across the board budget cuts. everybody takes a hit. so they say they can't do that. >> the military will not furlough workers on bases around the world and there are at least 100 bases around the world. only...
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today is the pentagon's turn to warrant congress. more than 700,000 ciliate employes would take one day off a week without pay. president obama blamed republicans for holding up a deal. the president said emergency responders could lose their jobs. >> these cuts are not fair and it will hurt our economy. >> john boehner said the revenue debate is now closed. >> republicans are not comfortable with these defense cuts. >> lawmakers are feeling the pinch. >> this is a missed opportunity to show we're serious about deficit reduction. >> a new plant would cut the deficit over 10 years. >> both camps have to get out of their comfort zone and make these tough decisions. >> lawmakers are not likely to accept the plan. it does appear at this time that the sequester would take effect. danielle leigh, wbal-tv 11 news. >> 6:08. 32 degrees at the airport. an airline will upgrade their in-flight entertainment. >> and historic block in kansas city goes up in flames. >> another day in court for oscar pistorius, accused of murdering his girlfriend. w
today is the pentagon's turn to warrant congress. more than 700,000 ciliate employes would take one day off a week without pay. president obama blamed republicans for holding up a deal. the president said emergency responders could lose their jobs. >> these cuts are not fair and it will hurt our economy. >> john boehner said the revenue debate is now closed. >> republicans are not comfortable with these defense cuts. >> lawmakers are feeling the pinch. >> this is a...
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nine days to go and with no budget deal, the pentagon announces upcoming furloughs for 700,000 civilian employees. >>> as his first speech as secretary of state today, john kerry issued a warning about the budget impasse. >> the looming days of budget sequester that everyone actually wants to avoid, or most, we can't be strong in the world unless we are strong at home. my credibility as a diplomat working to help other countries create order is strongest when america at last puts its own fiscal house in order, and that has to be now. >>> mending fences. president obama calls marco rubio and lindsey graham to talk immigration reform as john mccain faces an angry town hall at home. >> i'd like to respond to any questions or comments or insults that you may have. >> believe me, that is only the beginning. wait until you see what happens next. >>> joe biden being biden. the vice president's frank advice to parents on self defense and gun control. >> if you want to protect yourself, get a double-barrel shotgun. you don't need an ar-15. it's harder to aim, it's harder to use, and, in fact, yo
nine days to go and with no budget deal, the pentagon announces upcoming furloughs for 700,000 civilian employees. >>> as his first speech as secretary of state today, john kerry issued a warning about the budget impasse. >> the looming days of budget sequester that everyone actually wants to avoid, or most, we can't be strong in the world unless we are strong at home. my credibility as a diplomat working to help other countries create order is strongest when america at last puts...
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. >> let me ask you about the sequester, chris cillizza, because the pentagon is suggesting there will be 700,000 civilian layoffs. real people are being effected now, but everyone expects this will kick in in nine days and then, i guess, the white house thinks they'll negotiate the continuing resolution and some sort of an agreement will occur magically before the end of march. republicans still say they won't buy into any taxes. so we haven't bridged any of these gaps. >> we haven't, andrea. look, i know the president came out and gave a statement yesterday sort of expressing his desire for a deal, but i think this is really about -- and republicans are doing this too -- about positioning for march 2nd and beyond. no one expects a congress, who isn't even here this week, they are taking the president's week off, fine with me if i had that week off. they are taking this week off. next week they are back. congress doesn't get big budget deals done in eight days' time, seven days' time. the political positioning to see who has the upper hand in the negotiations that, in theory, will go
. >> let me ask you about the sequester, chris cillizza, because the pentagon is suggesting there will be 700,000 civilian layoffs. real people are being effected now, but everyone expects this will kick in in nine days and then, i guess, the white house thinks they'll negotiate the continuing resolution and some sort of an agreement will occur magically before the end of march. republicans still say they won't buy into any taxes. so we haven't bridged any of these gaps. >> we...
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then all you say is we're going to cut the pentagon. going to cut these mental health programs. going to cut education. there's no give on millionaires and billionaires. >> this comes back to a fundamental belief of mine which is this: who got us into this mess? politicians. who has to pay for it? the people who create jobs and people doing thing the right way. we blame them for everything. that's where i get frustrated in this process. the politicians created this and need to figure it out without blaming other people. let me say one other thing. on the defense cuts, let's take the sequestration defense cut, we're going from if sequestration happens, go from $5.7 trillion in spending for defense to $5.2 trillion in defense spending. so over a ten year period 5.7 to 5.2, are we kicking a can down the street? what are we doing? >> part of it is we're going to get savings from the end of two wars which is what drove this deficit problem. here's where i think we have to look seriously. we've got to figure out a way to do this without hurting people. and my sister works for the envi
then all you say is we're going to cut the pentagon. going to cut these mental health programs. going to cut education. there's no give on millionaires and billionaires. >> this comes back to a fundamental belief of mine which is this: who got us into this mess? politicians. who has to pay for it? the people who create jobs and people doing thing the right way. we blame them for everything. that's where i get frustrated in this process. the politicians created this and need to figure it...
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the pentagon just announced a news conference at 10:00 a.m. pacific to lay out how these automatic spending cuts will affect our spending. there are about 170 federal civilian workers in california. most of them would be furloughed for up to 22 days. that's equivalent to a 20% pay cut over a six-month period. now, those furloughs would not kick in until april, even if sequestration takes effect next friday. businesses that work for the federal government would also cut back. >> that waiting and failing to spend now is what could lead to unemployment now and difficulties later. . >> reporter: we'll -- we'll take a look at what the long- term effects could be on -- on california -- next. >> thank you. >>> a group that supports same- sex marriage is launching a $is million -- is launching a $1 million campaign featuring clips of president obama, former first lady laura bush, colin powell and former vice president, dick cheney, all expressing support for same-sex marriage. the group says the goal of the tv ad is to show there is bipartisan support
the pentagon just announced a news conference at 10:00 a.m. pacific to lay out how these automatic spending cuts will affect our spending. there are about 170 federal civilian workers in california. most of them would be furloughed for up to 22 days. that's equivalent to a 20% pay cut over a six-month period. now, those furloughs would not kick in until april, even if sequestration takes effect next friday. businesses that work for the federal government would also cut back. >> that...
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they're concerned what happens to the pentagon under sequestration because it goes across the board, they can't kill one program, every department, every subset has to feel the pain and so they're cautious on this point, but really, when you talk to them and you get them to say. and give them a choice between what the president is pitching and done in an unpleasant way they'd still rather have the cuts. >> he talks about, stu, look, we can avoid the cuts if we come up with a balanced program and all i'm asking for from the republicans is reasonable tax reform. that's it. we'll close a couple of loopholes, only the rich will feel that and the republicans are so married to the rich that they can't even save the lives of human beings and the jobs of first responders because they're so opposed to tax reform and the journal has questions about his definition of tax reform. your thoughts on that. >> yes, he has changed what tax reform means. tax reform, to the republicans, up until the last election. tax reform was, lower tax rates. get rid of some deductions, raise more revenue for the tr
they're concerned what happens to the pentagon under sequestration because it goes across the board, they can't kill one program, every department, every subset has to feel the pain and so they're cautious on this point, but really, when you talk to them and you get them to say. and give them a choice between what the president is pitching and done in an unpleasant way they'd still rather have the cuts. >> he talks about, stu, look, we can avoid the cuts if we come up with a balanced...
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our pentagon correspondent barbara starr is standing by with more on that story. what are they saying? >> well, you know, fredricka, we've been hearing for weeks about this fancy word around washington called sequester. what are we really talking about? layoffs at the pentagon, cutbacks in military spending, but it is the layoffs that are going to start if this budget cut problem is not solved, if congress cannot avert mandatory spending cuts. what the pentagon did is notify congress, are some 800,000 civilian workers are facing one day of furlough for the next 22 weeks. it is going to start hitting an awful lot of people right in the pocketbook. i want you to have a quick listen to one of the pentagon officials that explained some of the impact today. >> the effects of sequestration and the continuing resolution on our military personnel will be devastating. but on our civilians, it will be catastrophic. these critical members of our workforce, they work in our depots. they maintain and repair our tanks, our aircraft, our ships, they teach our kids. they care for
our pentagon correspondent barbara starr is standing by with more on that story. what are they saying? >> well, you know, fredricka, we've been hearing for weeks about this fancy word around washington called sequester. what are we really talking about? layoffs at the pentagon, cutbacks in military spending, but it is the layoffs that are going to start if this budget cut problem is not solved, if congress cannot avert mandatory spending cuts. what the pentagon did is notify congress, are...
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. $1.2 trillion cut across the board in domestic programs everything gets whacked, and out of the pentagon. it doesn't matter if it's stuff that is working. just everything would get cut. president obama yesterday in the south court auditorium with a group of first responders from all around the country in uniform standing in back of him said these are some of the people who are going to lose their jobs. >> obama: these cuts are not smart, they are not fair they will hurt our economy, and add hundreds of thousands of americans to the unemployment rolls. >> bill: and the president pointed out this is not selective. this is sledge hammer. >> obama: congress allows this meat cleaver approach to take place it will jeopardize our military readiness. it will eviscerate jobs. >> bill: and the president said when congress adopted this, it was so bad right, that never, never, never would anybody ever believe that congress would go along with this. >> obama: the whole design of his arbitrary cuts was to make them so unattractive and unappealing the democrats and republicans would get together and fi
. $1.2 trillion cut across the board in domestic programs everything gets whacked, and out of the pentagon. it doesn't matter if it's stuff that is working. just everything would get cut. president obama yesterday in the south court auditorium with a group of first responders from all around the country in uniform standing in back of him said these are some of the people who are going to lose their jobs. >> obama: these cuts are not smart, they are not fair they will hurt our economy, and...
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as late as september the pentagon was saying they were still trying to understand what the law was. in december they hadn't started. just a few weeks ago they start coming out now with all these dooms day scenarios. the reality is that the president could have stopped it. the house of representatives has passed not one, but two bills that would have stopped it. the senate has done nothing. martha, when the president talks about a balanced budget, most americans think what he means we balance the amount of money coming in with the amount of money coming out. martha: right. >> that is not what the president talks about with balance. martha: that is interesting, jay carney quoted alan simpson but the other thing he did not quote that alan simpson said, if this president does not get serious about deficit reduction, including taking on medicare and social security and reforming those entitlement programs, that he will have a failed presidency. do you think that is a message republicans have done a good job getting across? >> well, martha, i think that it is very difficult sometimes when
as late as september the pentagon was saying they were still trying to understand what the law was. in december they hadn't started. just a few weeks ago they start coming out now with all these dooms day scenarios. the reality is that the president could have stopped it. the house of representatives has passed not one, but two bills that would have stopped it. the senate has done nothing. martha, when the president talks about a balanced budget, most americans think what he means we balance...
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losing their jobs from the military and i wonder if those people standing behind them are from the pentagon. i don't want anybody to lose their job. but it is interesting that the comments did focus on the members of military. >> brian: $85 billion and $1.2 trillion in the next ten years and half of that money comes out the have the pentagon. i think republicans agreed with it but this is thrust postpone us. it was over a year we knew about at the questions terrify. why weren't we negotiating through december and then you have january and here we are couple weeks away and the president is going with this shame attack followed by speaker boehner, your solution to get us to raise taxes after we agreed to raise taxes. now, they say the rich have to pay their fair share again. maybe we should focus on facebook who paid no money in taxes last year or g.e. who did exactly the same thing. >> gretchen: it works last time. shaming the republicans worked. they decided to raise taxes and in the public image and public opinion it worked last time to blame reopens. why wouldn't you try it again? a lot o
losing their jobs from the military and i wonder if those people standing behind them are from the pentagon. i don't want anybody to lose their job. but it is interesting that the comments did focus on the members of military. >> brian: $85 billion and $1.2 trillion in the next ten years and half of that money comes out the have the pentagon. i think republicans agreed with it but this is thrust postpone us. it was over a year we knew about at the questions terrify. why weren't we...
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. >>> the pentagon is also sounding an alarm about sequestration. it's telling congress that hundreds of thousands of federal employees could face furloughs if no deal is reached. here is more from capitol hill. >> reporter: the fight over $1.2 trillion in across the board spending cuts set to begin march 11 is it is raging on. today it's the pentagon's turn to warn congress. more than 7,000 employees would take a pay cut. yesterday president obama blamed republicans for holding up a deal. the president said they could lose their jobs. >> these cuts are not smart, they are not fair, they will hurt our economy. >> reporter: president obama wants to reduce the cuts with new revenue. house speaker john boehner says the debate is closed. >> republicans are not comfortable with the cuts but they want to see spending cuts implemented. >> reporter: lawmakers on home at recess are feeling the pinch. >> the american people expect us to get serious about this and we're serious about deficit reduction. >> reporter: a new deficit reduction plan bier have got to
. >>> the pentagon is also sounding an alarm about sequestration. it's telling congress that hundreds of thousands of federal employees could face furloughs if no deal is reached. here is more from capitol hill. >> reporter: the fight over $1.2 trillion in across the board spending cuts set to begin march 11 is it is raging on. today it's the pentagon's turn to warn congress. more than 7,000 employees would take a pay cut. yesterday president obama blamed republicans for holding...
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most of the pentagon 800,000 civilian workers will be furloughed one day a week. defense secretary panetta sent notice to workers that all affected employees would be notified at least 30 days ahead of any of those planned furloughs. he warned the ridge i had nate and scale of these cuts would result in what he called a serious erosion of readiness. meanwhile, in his first major address, secretary of state john kerry warmed that the looming cuts would -- >> my credibility as a diplomat working to help other countries, create order, is strongest when america at last puts its own fiscal house in order. that has to be now. >> he added it's hard to tell other countries' leaders they have to resolve their economic issues if america doesn't solve their own. >>> sequestration could cost the city millions. saying the city could take a 50 million hit, and he says the city stands to lose 60 million in federal funding if across the board cuts go into effect. >> we did some estimates of impacts on education, impacts in health, impacts in the homeland security areas. and that'
most of the pentagon 800,000 civilian workers will be furloughed one day a week. defense secretary panetta sent notice to workers that all affected employees would be notified at least 30 days ahead of any of those planned furloughs. he warned the ridge i had nate and scale of these cuts would result in what he called a serious erosion of readiness. meanwhile, in his first major address, secretary of state john kerry warmed that the looming cuts would -- >> my credibility as a diplomat...
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Feb 20, 2013
02/13
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they're betting they'll blame the president for lost funding in federal programs and the pentagon over ten years, should the sequestration take place. house speaker john boehner said, quote, today the president advanced an argument republicans have been making for a year. his sequester is the wrong way to cut spending. senate majority leader mitch mcconnell insisted "more than three months after the november election, president obama still prefers campaign events to common sense, bipartisan action." and joining us now for more on this from washington, the former chief economist of the international monetary fund and bloomberg view columnist, simon johnson. he's the co-author of "white house burning: our national debt and why it matters to you," now out in paperback. simon, good to see you this morning. >> nice to be with you. >> simon, if you could help us through this over the next week or so, it doesn't look like there's a path to avoiding the sequestration if you listen to the two sides. so how damaging would this be? because we've heard a couple different versions of it that would
they're betting they'll blame the president for lost funding in federal programs and the pentagon over ten years, should the sequestration take place. house speaker john boehner said, quote, today the president advanced an argument republicans have been making for a year. his sequester is the wrong way to cut spending. senate majority leader mitch mcconnell insisted "more than three months after the november election, president obama still prefers campaign events to common sense,...